Listed by CBRE - Albuquerque
$3,930,000
Legacy Shops @ Journal Center
Details
Property Type Retail
Sub Type Shopping Center
Square Footage 8,685
Cap Rate 7.50%
Occupancy 100%
Tenancy Multi
Lease Type NNN
Remaining Term 3
Year Built 2017
Buildings 1
Acreage 1.410
Investment Type Stabilized
Ground Lease No
Retail Strip Center Investment
Marketing description
CBRE, Inc. is pleased to offer this one of kind retail strip center investment located in the north Albuquerque, highly desirable Journal Center submarket. Shadow anchored by a top Bass Pro Shops and surrounded by Class A office and multi-family developments, Legacy @ Journal Center Shops caters to wide breadth of consumers in the vicinity and those traveling for the Bass Pro experience. Offered at a very attractive 7.5% cap, the investment provides ample positive leverage and predictable annual cash on cash return.
Investment highlights
- Consistent and predictable income stream
- Favorable positive leverage
- Guaranteed annual rent escalations
- Long-standing, stable tenancy anchored by established local businesses since 2019
- Strategically located and well-constructed asset within the highly desirable North I-25 corridor, offering exceptional visibility from Interstate 25 and Paseo del Norte
- NNN leases providing insulated and consistent cash flow
- Dynamic location amidst a thriving ecosystem of retail, office, and Class A multifamily developments
- Situated within the premier Journal Center Office Park, benefiting from a significant daytime population in the larger North I-25 submarket
- Shadow-anchored by New Mexico's exclusive Bass Pro Shops, a dominant regional retail destination
- Enhanced local amenity with the presence of Restoration Pizza and Magnolia Cafe, addressing significant demand for dining options on the West Side of I-25
Listing Contacts
Listed by CBRE - Albuquerque
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$--
$--
Valuation Metrics
0
DSCR
--
Cap Rate
--
ROI
Map
Broker Selected Comps View More Comps
Property History
Similar Properties
Additional Information
Name
License
Brokerage
Title
Brokerage Address
Is there information that looks off?
